Nigeria’s economy growing faster on reform gains- Edun

 

The economy is growing faster and government’s financial position becoming better as ongoing reforms continue to address fundamental pillars for sustainable development

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday gave a full overview of the national economic data, with significant improvements in fiscal and monetary positions.

Speaking at the newly introduced quarterly media briefing yesterday in Abuja, Edun highlighted that the economy grew faster in the first quarter of 2024 compared to 2023.

ACCORDING to him, economic activity in the first quarter of 2024 was not only faster than first quarter of 2023, but it was also the second fastest first-quarter growth in the last six years.

He noted that the economic growth was broad-based across several sectors including agriculture, industries and services, with agricultural growth recovering from negative in the first quarter of 2023 to a modest growth in the first quarter of 2024.

He pointed out that the industrial sector grew seven times faster in first quarter 2024 than in first quarter 2023.

He attributed this positive economic performance to the government’s well-coordinated fiscal and monetary policies.